Nearly all of the Dow’s more-than 70-point climb to records is on the back of surging Intel, 3M stocks

The Dow Jones Industrial Average was trading squarely in record territory on Friday, with almost all of the advance on the back of a run-up in shares of components Intel and 3M Co. Intel Corp. saw its shares rise about 9%, or $4.10, while 3M Co.’s stock was up 1.9%, or about $5, combining to contribute more than 60 points to the Dow . A $1 move in any one of the price-weighted, blue-chip average’s 30 components translates to a 6.83-point swing. The Dow was up 64 points, or 0.2%, at 26,457, in recent trade, trading in record territory, while the S&P 500 index climbed 0.4% at 2,849. Meanwhile, the Nasdaq Composite Index was gaining 0.5% at 7,446. Both Intel and 3M recently reported fourth-quarter results that exceeded Wall Street expectations, underscoring what has been a solid start to earnings season.

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From:: Stock Market News

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